Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a class action lawsuit against Megan Holdings Limited (NASDAQ: MGN)

Lead Plaintiff Deadline is September 8, 2026

NEW YORK, July 07, 2026 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned  Mundy v. Megan Holdings Limited et.al, Case 1:26-cv-05754, on behalf of persons and entities that purchased or otherwise acquired Megan Holdings Limited (“Megan” or the “Company”) (NASDAQ: MGN) securities between September 29, 2025 and March 25, 2026, inclusive (the “Class Period”).

Plaintiff pursues claims against Megan, its executives Darren Hoo AKA Hoo Wei Sern, Kai Tie Ng, WWC, P.C., and D. Boral Capital LLC, under the Securities Exchange Act of 1934.

Further, this class action also assert claims on behalf of persons and entities that purchased or otherwise acquired Megan securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Offering Documents”) in connection with Megan’s September 29, 2025, initial public offering (“IPO”), pursuant to the Securities Act of 1933 (the “Securities Act”).

Investors are hereby notified that they have until September 8, 2026, to move the Court to serve as lead plaintiff in this action.

You may obtain a copy of the complaint and submit your contact information on our website. Or you may call our New York office directly: 1-212-545-4774.

The Company is a holding company incorporated in the Cayman Islands. Megan’s principal executive offices are in Kuala Lumpur, Malaysia.

The Class Period begins on September 29, 2025, when the Company filed its Initial Public Offering (“IPO”), issuing 1,250,000 shares at a price of $4.00 per share, raising $5 million.

Although subsequent public filings and news were scarce regarding the Company, even as both the stock price and trading volume surged throughout the class period, a coordinated effort was made on social media and messaging applications, such as WhatsApp, to “pump” Megan, led by stock promoters posing as financial advisors. Based on information and belief, these stock promoters used aliases and false photographs to conceal their true identities and were key cogs in the stock manipulation scheme surrounding Megan.

On March 26, 2026, the Company’s market value collapsed 93.4% to close at $0.28 per share, down from $4.24 per share at close (and $5.18 per share at intraday high) on March 25, 2026. The stock has not recovered and continues to trade below $0.28.

On March 26, 2026, after the first minute of trading, NASDAQ halted trading of Megan shares. Between 9:30 AM EDT and 10:02:01 AM EDT, Megan shares would be halted five separate times, only reopening for brief windows of seconds and minutes. The Company’s stock would also be halted three additional times throughout the day at 10:29:01 AM EDT, 10:49:37 AM EDT, and 11:10:58 AM EDT.

Why Wolf Haldenstein Adler Freeman & Herz LLP?

This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.

We encourage all investors who have suffered financial loss or have information that will assist in our investigation to contact Wolf Haldenstein Adler Freeman & Herz LLP.

Contact:

• Phone: 1 (800) 575-0735 or 1 (212) 545-4774
• Email: classmember@whafh.com
• Contact Person: Gregory Stone, Director of Case and Financial Analysis
  

Case Website: Wolf Haldenstein Adler Freeman & Herz LLP

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.